Arusha, Tanzania-based solar energy provider Off Grip Electric scored $7 million in a funding round led by Vulcan Capital, SolarCity, and Omidyar Network to power homes with prepaid electricity.
Tanzania, United Republic of
Fastjet Bows To Founder’s Call Removing CEO And General Counsel With Immediate Effect
Fastjet founder Stelios Haji-Ioannou has called for removing its CEO and suggested for other restructuring. Though the African budget carrier has decided for keeping the CEO as an advisor for another year, but finally decides to address its founder’s call. However, the founder has accused the Fastjet CEO for representing unrealistic revenue forecast.
Shares of African budget airline carrier Fastjet drops on profit warning
Fastjet has issued a profit warning once again owing to weak demand for flight journey. The company projects 2016 results to be below analysts' projection.
African cocoa a golden ticket for Tanzania chocolate factory
Jaki Kweka is that rare breed of gourmet chocolatier. She makes fine chocolate in Africa using local African ingredients.
Viettel to invest $1 billion on 3G telecoms network in Tanzania: officials
Vietnam-based telecoms operator Viettel plans to invest $1 billion in a new third-generation (3G) mobile phone network in Tanzania, the office of the east African country's president said on Tuesday.
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Johannesburg, South Africa-based banking network Nedbank Capital is looking for new mining investment destinations in Africa, aside from gold explorations in Tanzania, Ghana, and Burkina Faso.
Nairobi, Kenya-based private equity firm Catalyst Principal Partners acquired Dar es Salaam, Tanzania-based heavy equipment rental and logistics firm EFFCO for an undisclosed amount as part of its strategy to invest in high-growth companies in eastern Africa.
Negotiations between GAIL India and UK-based Ophir Energy about a possible sale of the latter's stake in Tanzania gas assets are still ongoing. Ophir's earlier share sale deal with Pavilion Energy has been initially seen as a setback in the talks.
A report from the UN Food and Agriculture Organization revealed that political will and farmer involvement are crucial for biotech research and innovation to succeed in reducing poverty in developing countries.
African airline holding company Fastjet PLC said Lonrho Ltd, its largest shareholder, had put up for sale of its entire stake in the company. Lonrho would be raising GBP1.49 million from the exit.
News about Ophir's asset sale in Tanzania caused the oil and gas explorer's shares to rise.
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